Global markets were higher overnight as more strong US corporate results, and tech shares, bolstered Wall Street. Earnings beats from Mondelez and Kellogg spurred the latest move higher for US equities. Apple, which rose to a fresh record high, continued to boost overall tech sentiment with generally positive iPhone X reviews.
Closer to home, both the Australian and NZ markets experienced strong gains in October, with the ASX 200 index and NZX 50 index up +4% and +2.7% respectively.
For the ASX, the market finally broke out of an extended sideways trading range with banks and miners pushing the benchmark top 200 index back towards 6000 points. The NZX has managed to rally to new highs, despite the surprise election result, with currency sensitive sectors performing well in recent times as the NZ dollar has trended lower. ...
Stock Markets, Simplified.